Peter Brandt, a seasoned commodity trader and chart analyst, has expressed skepticism regarding a popular bullish narrative making rounds on social media. He cautioned traders that the “significant” reversal pattern they are anticipating does not actually exist.
Bitcoin might rise
However, this is $NOT an inverse H&S
The level of incompetence regarding classical charting principles on X and YouTube is astonishing https://t.co/VBT1QTWOeZ?from=article-links— Peter Brandt (@PeterLBrandt) February 17, 2026
While Brandt refrained from forecasting a price drop, he criticized the technical analysis capabilities of cryptocurrency influencers. He specifically refuted claims suggesting that Bitcoin is developing a multi-year “inverse head and shoulders” pattern.
The viral “6-year” theory
This critique was aimed at a post by crypto analyst Coinvo Trading, which asserted that Bitcoin was nearing the completion of an enormous bullish formation that has been evolving over five years.
The post encouraged traders to disregard any “bearish noise,” predicting that Bitcoin could hit its lowest point at any moment before embarking on a significant upward movement.
An inverse head and shoulders setup is traditionally recognized as an indicator marking the conclusion of a downtrend and signaling the onset of a new bullish phase.
Brandt, who boasts decades of experience in classical charting techniques, quickly dismissed this analysis as flawed.
“Bitcoin may go up,” he acknowledged. “But this is $NOT an inverse H&S.”
Additonally, Brandt voiced his irritation with how loosely technical analysis principles are interpreted across social media platforms.
“The level of incompetence concerning classical charting principles on X and YouTube is astounding,” he remarked.
A purported “6-year” pattern often disregards time constraints typically associated with head and shoulders formations. These patterns usually represent medium-term reversals rather than long-term cycles spanning decades.